A Special Court for the Central Bureau of Investigation (CBI) on Friday adjourned the hearing in the illegal assets case of Kadapa MP and YSR Congress Party Chief YS Jaganmohan Reddy to December 3.
The court was adjourned after the personal appearance of the accused in the court including Reddy and India Cements Ltd’s Managing Director N Srinivasan.
In the sixth chargesheet filed by the CBI in the case, it was alleged that India Cements was involved with Reddy in quid pro quo deals.
CBI said that India Cements had invested Rs 40 crore in Reddy’s firms besides an additional Rs 100 crore in Raghuram Cements Pvt. Ltd which was later taken over by Reddy’s Bharathi Cements Corp. Pvt. Ltd.
In return, the Andhra Pradesh Govt permitted the company to draw additional water from the Krishna river to its cement manufacturing units in Nalgonda and Rangareddy districts and also a mining lease in Kadapa district by 25 years, according to the chargesheet.